LPL Financial LLC Increases Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

LPL Financial LLC grew its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 8.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 879,527 shares of the home improvement retailer’s stock after buying an additional 65,910 shares during the quarter. LPL Financial LLC’s holdings in Lowe’s Companies were worth $217,067,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in LOW. United Bank raised its position in shares of Lowe’s Companies by 1.4% during the 3rd quarter. United Bank now owns 10,099 shares of the home improvement retailer’s stock valued at $2,735,000 after buying an additional 137 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of Lowe’s Companies by 2.9% during the 3rd quarter. Pacer Advisors Inc. now owns 42,266 shares of the home improvement retailer’s stock valued at $11,448,000 after buying an additional 1,175 shares in the last quarter. Eagle Asset Management Inc. raised its position in shares of Lowe’s Companies by 3.0% during the 3rd quarter. Eagle Asset Management Inc. now owns 13,824 shares of the home improvement retailer’s stock valued at $3,748,000 after buying an additional 399 shares in the last quarter. Cerity Partners LLC raised its position in shares of Lowe’s Companies by 19.0% during the 3rd quarter. Cerity Partners LLC now owns 210,662 shares of the home improvement retailer’s stock valued at $57,058,000 after buying an additional 33,686 shares in the last quarter. Finally, Lane & Associates LLC purchased a new stake in Lowe’s Companies in the 3rd quarter worth about $370,000. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Lowe’s Companies Trading Up 0.4 %

NYSE LOW opened at $227.09 on Monday. The firm’s fifty day simple moving average is $247.99 and its two-hundred day simple moving average is $257.88. Lowe’s Companies, Inc. has a 12-month low of $211.80 and a 12-month high of $287.01. The firm has a market capitalization of $128.23 billion, a P/E ratio of 18.94, a P/E/G ratio of 1.96 and a beta of 1.12.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.10. Lowe’s Companies had a net margin of 8.19% and a negative return on equity of 47.55%. The business had revenue of $18.55 billion for the quarter, compared to analyst estimates of $18.29 billion. As a group, sell-side analysts predict that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd will be issued a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 2.03%. Lowe’s Companies’s dividend payout ratio is currently 37.67%.

Analysts Set New Price Targets

LOW has been the topic of a number of recent analyst reports. Evercore ISI increased their price objective on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock an “in-line” rating in a research report on Thursday, December 12th. StockNews.com lowered shares of Lowe’s Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, March 11th. Guggenheim reissued a “buy” rating and issued a $300.00 price objective on shares of Lowe’s Companies in a research report on Thursday, December 12th. Bank of America reduced their price objective on shares of Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Finally, BNP Paribas raised shares of Lowe’s Companies to a “strong sell” rating in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $280.83.

About Lowe’s Companies

Lowe’s Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It also provides home improvement products, such as appliances, seasonal and outdoor living, lawn and garden, lumber, kitchens and bath, tools, paint, millwork, hardware, flooring, rough plumbing, building materials, décor, and electrical.